Form 4: Relay Therapeutics CEO Sanjiv Patel Acquires Shares Under Employee Stock Purchase Plan

Relay Therapeutics CEO Sanjiv Patel acquired 2,108 shares of common stock through the company's Employee Stock Purchase Plan (ESPP) at a price of $5.54 per share.

Summary

• On June 30, 2024, Sanjiv Patel, the President and CEO of Relay Therapeutics, acquired 2,108 shares of Relay Therapeutics common stock.
• The acquisition was made through the company's Employee Stock Purchase Plan (ESPP).
• The price per share was $5.54, which is 85% of the closing price of the Issuer's common stock on June 28, 2024.
• Following the transaction, Patel directly owns 766,130 shares of common stock, including 762,360 shares underlying restricted stock units.
• Patel also has indirect ownership through The Patel Family Irrevocable Trust of 2019 (674,548 shares) and The SSP Irrevocable Trust of 2020 (687,355 shares), but disclaims beneficial ownership of these securities.

Sentiment

Score: 6

Explanation: Neutral sentiment. The transaction is a routine purchase under an employee stock purchase plan and doesn't necessarily indicate a strong positive or negative outlook.

Positives

• The CEO's participation in the ESPP demonstrates confidence in the company's future.
• The acquisition increases the CEO's direct stake in the company.

Management Comments

• The reporting person is voluntarily reporting this transaction.
• The reporting person disclaims beneficial ownership of these securities held in irrevocable trusts, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Industry Context

Form 4 filings are standard practice for company insiders and officers to report changes in their beneficial ownership of company stock. This filing indicates routine participation in the company's ESPP.

Comparison to Industry Standards

• ESPPs are a common benefit offered by publicly traded companies to allow employees to purchase company stock at a discounted rate.
• The discount of 15% (85% purchase price) is a typical ESPP discount.
• Insider transactions are closely monitored by regulators and investors to ensure compliance with securities laws and to gain insights into management's perspective on the company's value.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It reflects the CEO's participation in a standard employee benefit program.

Key Dates